Many policymakers think it's time for the U.S Federal Reserve to reduce its $4.5 trillion balance sheet, and this news has mildly boosted precious metals prices. The market looks to China for the long-anticipated meeting between Donald Trump and the Chinese President, Xi Jinping. Fears of a trade war have suppressed the Dollar and other risky assets.
In Britain, the divorce from the EU looks to be messy. Many EU officials seek to punish the UnitedKingdom - leaving it worse off after Brexit as a deterrent for other countries seeking to leave. The British currency has held up during April, but technical analysis suggests another drop could be on the way. Gold can be used to hedge against punitive actions that could hurt the British currency.
Spot Prices.
Gold trades for $1,256.50 per ounce, representing an increase of $7.50 from the previous session. Silver rose 0.08% to $18.30. Platinum rallied 0.28% to $961.20 and palladium rests at $806 per ounce. Precious metals are supported by safe-haven demand around the globe. This fear-trade is driven by political turmoil between Russia and the United States over the war in Syria and missile testing in North Korea.
